Marine Petroleum Trust (NASDAQ:MARPS) Stock Passes Below 200-Day Moving Average of $8.28

Marine Petroleum Trust (NASDAQ:MARPS – Get Rating)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.28 and traded as low as $7.20. Marine Petroleum Trust shares last traded at $7.36, with a volume of 1,291 shares traded.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Marine Petroleum Trust in a research report on Wednesday. They set a “hold” rating on the stock.

Marine Petroleum Trust Stock Performance

The firm’s 50 day moving average is $7.73 and its 200 day moving average is $8.28.

Marine Petroleum Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, February 28th will be issued a $0.159 dividend. This represents a $0.64 annualized dividend and a dividend yield of 8.64%. The ex-dividend date is Monday, February 27th.

Hedge Funds Weigh In On Marine Petroleum Trust

A hedge fund recently bought a new stake in Marine Petroleum Trust stock. BNP Paribas Arbitrage SA bought a new position in shares of Marine Petroleum Trust (NASDAQ:MARPS – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,069 shares of the energy company’s stock, valued at approximately $289,000. BNP Paribas Arbitrage SA owned 1.80% of Marine Petroleum Trust at the end of the most recent reporting period. Institutional investors and hedge funds own 3.47% of the company’s stock.

About Marine Petroleum Trust

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Marine Petroleum Trust operates as a royalty trust. It engages in the administration and liquidation of rights to payments from certain oil and natural gas leases in the Gulf of Mexico. The company was founded on June 1, 1956 and is headquartered in Dallas, TX.